IT major Wipro on Friday announced June 5 as the record date for determining the eligible shareholders for its buyback program. According to a release on the NSE, the company’s Board of Directors and shareholders have approved the Rs 15,000 crore share buyback, with the company proposing to buyback up to Rs 60 crore equity shares with a face value of Rs 2 at Rs 250 for each share.
This is the largest buyback programme announced by the firm and the first in a span of three years.
“This has reference to our earlier letter dated April 16, 2026 and May 21, 2026, informing the stock exchanges that the Board of Directors and shareholders of the Company, respectively, have approved the proposal to buyback up to 60,00,00,000 (Sixty Crore Only) fully paid-up equity shares of the Company of face value of ₹ 2/- (Rupees Two only), for an aggregate amount not exceeding ₹ 1,50,00,00,00,000/- (Rupees Fifteen Thousand Crore only), each at a price of ₹ 250/- (Rupees Two Hundred and Fifty only) per equity share on a proportionate basis through the tender offer process,” the company stated in the filing.
In a statement filed a day ahead on May 21, the company also noted some other resolutions which were voted upon besides the share buyback, including the re-appointment of Ms. Tulsi Naidu as an independent director for a second term of five years, effective from July 1, 2026 till June 30, 2031. Shareholders also approved the appointment of Ms. Laura Marie Miller as an independent director for a term starting April 1 this year until end of March in 2031.
The 600 million fully paid-up equity shares represent 5.72% of the company’s total paid-up equity share capital, the filing noted. This represents “24.99% and 19.99% of the aggregate of the Company’s fully paid-up Equity Share capital and free reserves as per the latest audited standalone and consolidated financial statements of the Company for the year ended as on March 31, 2026, respectively,” it added.
Wipro had announced the current share buyback on April 16, 2026.
Meanwhile, US-based IT services major Cognizant on May 18 also accelerated its share buyback programme to a target of $2 billion, from the earlier target of $1 billion, with the additional $1 billion repurchase likely to be completed in the second-quarter.
“Our plan to increase the amount of share repurchases reflects our strong conviction in the long-term opportunity AI creates and our critical role in it as an AI builder,” said Ravi Kumar S, CEO. “We believe a fundamental shift in the IT services is underway, one that strengthens Cognizant’s position for future growth. We believe our current share price significantly undervalues those prospects. I am confident that our early investments will position us to emerge as a leader in AI-led enterprise transformation in the years ahead.”
